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REC Silicon ASA ( (RNWEF) ) just unveiled an update.
REC Silicon ASA is facing a critical financial situation as its largest shareholder, Hanwha Group, through Anchor AS, has made a voluntary tender offer for all shares not already owned by them at NOK 2.20 per share. The board of directors has explored alternative financing options but is constrained by existing agreements and Hanwha’s refusal to provide further loans unless the offer is completed. The board believes the offer undervalues the company and has been unable to negotiate a higher price. If the offer is completed, Hanwha will gain increased control, potentially affecting share liquidity and voting power at future meetings. Given the lack of viable alternatives, the board is unable to recommend any options other than the offer.
The most recent analyst rating on (RNWEF) stock is a Hold with a NOK8.00 price target. To see the full list of analyst forecasts on REC Silicon ASA stock, see the RNWEF Stock Forecast page.
More about REC Silicon ASA
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity silicon gases to the solar and electronics industries worldwide. The company combines over 40 years of experience and proprietary technology to meet customer needs and is listed on the Oslo Stock Exchange with its headquarters in Lysaker, Norway.
YTD Price Performance: -34.71%
Average Trading Volume: 1,860,494
Current Market Cap: NOK986.8M
See more data about RNWEF stock on TipRanks’ Stock Analysis page.